The only number that matters
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Tuesday 14th November 2023
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The NY Fed\\u2019s consumer inflation survey overnight had expectations fall a little over last month, in contrast to the University of Michigan survey last week, which had inflation expectations rising. So who do you believe? You believe the hard numbers, says NAB\\u2019s Ray Attrill, which are out tonight (Australia time). Market moves have been fairly restrained in the build up to the US CPI release, but the response could be quite marked. Ray says it\\u2019s worth looking to the second decimal place to get a real handle of the speed of travel. Locally the NAB Business Survey is out today along with the latest consumer sentiment read. The UK has employment numbers, the NFB small business survey is out and the ZEW survey for Germany. A busy day.
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